Financial Partners CU hosted its highly anticipated Seventh Annual Economic Forum this week, with a keynote address from renowned economist on California and the United States — Christopher Thornberg, founder of Beacon Economics.
The event — presented in collaboration with the Costa Mesa Chamber of Commerce and Downey Chamber of Commerce — brought together a diverse audience of more than 100 business leaders, community members, and financial experts to discuss the current state and future trajectory of Southern California’s economy.
During his keynote presentation, Thornberg shared invaluable insights into the economic landscape of Southern California, emphasizing the impact of skewed social narratives versus economic realities. “The economy is fine, but these narratives are driving bad policy choices,” Thornberg said.
His research and analysis shed light on key factors affecting the region’s economic growth and stability. Thornberg said that while the local economy is fundamentally strong, Southern California’s labor and housing shortages are the primary issues. The lack of new home development has contributed to the stagnant growth in metropolitan areas, he added.
Overall, Thornberg said Southern California’s Economy remains “solid” and will continue growing well into mid-2024 at the very least — excluding a random event that experts cannot foresee.
Nader Moghaddam, president and CEO of Financial Partners CU, shared his enthusiasm for the event’s success. “We are thrilled Dr. Thornberg joined us once again and offered such enlightening perspectives on the regional economy,” he said. “His insights left attendees better informed and equipped to understand the economic opportunities and challenges that lie ahead.”
As the annual gathering’s success ignites continued conversations throughout the community, Financial Partners CU signaled during the event that it remains committed to its mission of fostering financial wellbeing and empowering individuals and businesses across Southern California.